Fulton County property tax assessment notices are out and you have 45 days to appeal. Given that residential values have continued to trend lower over the past year you should consider the assessment notice sent to you. Is the 2011 value a reduction from the 2010 value? Was the 2010 value a reduction from the 2009 value? If your value hasn't changed much in the last few years you have a good reason to appeal.
Atlanta residential values are down -33% from the peak of the market. This is, of course, an average of the entire metro area. Some areas have been harder hit than others. But if your assessment hasn't been reduced (much) it is probably because the assessment staff didn't think they had enough market data to make a change. One of the reasons that they didn't feel they had enough market data was they considered foreclosures to be non-market transactions.
That has all changed however. The Georgia Legislature has compelled the counties to consider foreclosure sales, short sales, and other forms of distressed sales while they are making their value estimates. In effect, the legislature has made the distressed sales "market value" indicators for property tax purposes. If distressed sales are the majority of sales in your neighborhood it is time for the assessors to consider those sales.
If your value is not changed or is little changed during this recessionary cycle please contact us for help on your property tax appeal. We are reached at www.fair-assessments.com or 404-647-2780.
Atlanta residential values are down -33% from the peak of the market. This is, of course, an average of the entire metro area. Some areas have been harder hit than others. But if your assessment hasn't been reduced (much) it is probably because the assessment staff didn't think they had enough market data to make a change. One of the reasons that they didn't feel they had enough market data was they considered foreclosures to be non-market transactions.
That has all changed however. The Georgia Legislature has compelled the counties to consider foreclosure sales, short sales, and other forms of distressed sales while they are making their value estimates. In effect, the legislature has made the distressed sales "market value" indicators for property tax purposes. If distressed sales are the majority of sales in your neighborhood it is time for the assessors to consider those sales.
If your value is not changed or is little changed during this recessionary cycle please contact us for help on your property tax appeal. We are reached at www.fair-assessments.com or 404-647-2780.
